60 minutes using Moranbah to talk about markets utter rubbish

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Nigel Kibel
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@nigel-kibel
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February 21, 2016 - 9:05 pm
Just watching 60 minutes. It is the most irresponsible segment that I have ever seen they are using Moranbah, the worst real estate market in Australia, based on one industry mining, that was way over priced. They are using this to say the whole market will collapse. Utter Crap.
I have never seen a worse example of irresponsible journalism.
- This topic was modified 8 years, 9 months ago by Nigel Kibel.
- This topic was modified 8 years, 9 months ago by Nigel Kibel.
Nigel Kibel | Property Know How
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D.T.
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@dtraeger
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February 22, 2016 - 9:29 pm
Yea, just basing it on people who chose to fly too close to the flame and got burnt
D.T. | DT Property Management
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Adelaide Property Management - whole Adelaide metro
BuyersAgent
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@knightm
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February 23, 2016 - 10:42 pm
Agreed, completely ignored all of the fundamentals of 99% of the oz market. Untrue from start to finish.
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Corey Batt
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@cjaysa
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February 24, 2016 - 9:23 am
Holding right through that period was an absurd idea – I remember at the time most people who were actually investing in the areas went in knowing they should only hold for *months* before the market died. Same for all mining towns – a small shoot up whilst demand is strong and no new housing comes online – then SELL.
Sensationalism sells journalism in the end.
Corey Batt | Precision Funding
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MKB
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@bakerm023
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February 24, 2016 - 10:32 pm
Agreed. Also, have a look at what The Age is running with at the moment….
A hedge fund manager and economist sniffing around western Sydney, now proclaim Australian property is in the biggest bubble of all time.
The Aussie share market is also apparently toast despite having gone nowhere in a decade.
Okay I give up – can I invest in sensationalist journalism…?? At least there is one bull market running at the moment.
Nigel Kibel
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February 25, 2016 - 7:36 am
It is always interesting that the media are so ill informed. When I watched the 60 minutes segment i almost thought it was a joke. 60 minutes might be just above today tonight. There are so many things that are wrong. I notice the Age running a story supporting this same so call expert blaming much of it on interest only loans. So lets look at this.
Currently the banks will lend on 30 years principle and interest where the principle is based over 30 year. In most cases you do not even pay anything off the principle for the first 5 years and the whole process effects your cash flow. Now on an interest only loan you can make extra payments month one and guess what this comes straight off the principle. So guess what loans the banks prefer??
Guess where this all comes from yep its ASIC advising the banks. So my question is ASIC the most useless organization in Australia?
Nigel Kibel | Property Know How
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